Mel Karmazinhttp://www.businessinsider.com/category/mel-karmazin
en-usSun, 02 Aug 2015 16:40:15 -0400Sun, 02 Aug 2015 16:40:15 -0400The latest news on Mel Karmazin from Business Insiderhttp://static3.businessinsider.com/assets/images/bilogo-250x36-wide-rev.pngBusiness Insiderhttp://www.businessinsider.com
http://www.businessinsider.com/ceo-mel-karmazin-will-leave-siriusxm-next-year-2012-10CEO Mel Karmazin Will Leave SiriusXM Next Year http://www.businessinsider.com/ceo-mel-karmazin-will-leave-siriusxm-next-year-2012-10
Tue, 23 Oct 2012 17:33:00 -0400Tim Kenneally
<p><img style="float:right;" src="http://static4.businessinsider.com/image/5087095b6bb3f7e57b000006-400-/mel-karmazin.png" border="0" alt="mel karmazin" width="400" style="float: right;" /></p><p><a href="http://www.businessinsider.com/blackboard/mel-karmazin" class="hidden_link">Mel Karmazin</a>, the CEO of SiriusXM Radio, is stepping down from the company.</p>
<p>Karmazin will depart on Feb. 1, following the expiration of his current employment agreement and a transition period.&nbsp;</p>
<p>Calling SiriusXM an "extraordinary company with an incredible team," Karmazin said he believed that the company's "best years are ahead."</p>
<p>"SiriusXM is an extraordinary company with an incredible team. It is an honor to come to work here every day where we truly deliver the best radio on radio. I am incredibly proud of what we have accomplished. Given where we started, it is amazing that SiriusXM has grown to become the largest radio company in the world," Karmazin said. "We continue to grow our subscriber base to record levels and our financial position has never been stronger. Importantly, the commitment to delivering innovative new products and technologies is very strong. SiriusXM has a strong foundation to build on for the future and there is a great team in place to keep the company moving forward. I am confident that SiriusXM's best years are ahead," said Karmazin."</p>
<p>Read the full press release below.</p>
<p>More to come...</p>
<p>CEO Mel Karmazin to Step Down from SiriusXM</p>
<p>&nbsp;NEW YORK, Oct. 23, 2012 /PRNewswire via COMTEX/ -- SiriusXM Radio SIRI -1.37% today announced that Mel Karmazin informed its Board of Directors that he will be leaving the Company on February 1, 2013, following the expiration of his current employment agreement and after a transition period. Mr. Karmazin will also leave the Board of Directors at that time.</p>
<p>"SiriusXM is an extraordinary company with an incredible team. It is an honor to come to work here every day where we truly deliver the best radio on radio. I am incredibly proud of what we have accomplished. Given where we started, it is amazing that SiriusXM has grown to become the largest radio company in the world. With a deep bench of corporate talent, a roster that includes the most in-demand on-air personalities and a wide-range of exclusive programming, SiriusXM has never been better positioned than it is today. We continue to grow our subscriber base to record levels and our financial position has never been stronger. Importantly, the commitment to delivering innovative new products and technologies is very strong. SiriusXM has a strong foundation to build on for the future and there is a great team in place to keep the company moving forward. I am confident that SiriusXM's best years are ahead," said Karmazin.</p>
<p>"On behalf of the Board of Directors, I want to thank Mel for his significant contributions to the Company," said Eddy Hartenstein, Chairman of the Board of Directors of SiriusXM. "Under his leadership, the Company underwent a transformative merger and a financial restructuring that has enabled SiriusXM to deliver significant value for shareholders. Our record breaking financial results are a testament to Mel's leadership and strategic planning, and we continue to exceed our expectations with all-time high subscriber numbers.</p>
<p>Thanks to Mel, we are well-positioned for long-term growth and value creation. We will miss Mel &ndash; and the Board wishes him the very best in his future endeavors &ndash; SiriusXM has a strong executive team in place and we are very confident in our business and our future prospects.&rdquo;</p>
<p>&ldquo;We appreciate the tremendous job Mel has done for the Company in overseeing the merger and delivering outstanding operating performance. While we understand, we regret Mel&rsquo;s decision to pursue other interests and are grateful for his willingness to oversee a smooth and orderly transition,&rdquo; said John Malone, Chairman of <a href="http://www.businessinsider.com/blackboard/liberty-media-corporation" class="hidden_link">Liberty Media Corporation</a>.</p>
<p class="p1">Sirius' board has launched a search committee led by Greg Maffei to seek internal and external candidates for Karmazin's successor.</p>
<h3 class="p1"><strong>SEE ALSO:&nbsp;<a href="http://www.businessinsider.com/cbs-sued-for-the-talk-2012-10">A former basketball wife is suing CBS Over Allegedly Stealing Her Idea For 'The Talk' &gt;</a></strong></h3><p><a href="http://www.businessinsider.com/ceo-mel-karmazin-will-leave-siriusxm-next-year-2012-10#comments">Join the conversation about this story &#187;</a></p> http://www.businessinsider.com/2008/9/mel-karmazin-regular-radio-an-even-worse-investment-than-sirius-siri-Mel Karmazin: Regular Radio An Even Worse Investment Than Sirius (SIRI)http://www.businessinsider.com/2008/9/mel-karmazin-regular-radio-an-even-worse-investment-than-sirius-siri-
Wed, 10 Sep 2008 05:11:00 -0400Hilary Lewis
<p><img style="float:right;" src="http://static2.businessinsider.com/~~/f?id=48c79a50796c7a1b007d65ef&amp;maxX=300&amp;maxY=227" border="0" alt="melkarmazinap.jpg" title="melkarmazinap.jpg" width="300" height="227" /></p><p>Sirius XM boss Mel Karmazin keeps trying to convince investors that his satellite-radio company isn't a terrible investment. His new argument: regular radio is even worse!</p>
<p style="padding-left: 30px;"><a href="http://www.reuters.com/article/entertainmentNews/idUSN0933871920080910?feedType=RSS&amp;feedName=entertainmentNews">THR</a>: Mel Karmazin, trying to shore up Wall Street support for Sirius XM Radio, told analysts that regular radio "sucks" as an investment while the company he heads deserves more respect because of its growth prospects.<span></span></p>
<p style="padding-left: 30px;">The CEO's message, delivered at a Merrill Lynch conference, seemed to fall on deaf ears Tuesday, though, and Sirius XM stock sank to a price not seen in more than five years.</p>
<p style="padding-left: 30px;"><span></span></p>
<p style="padding-left: 30px;">Sirius XM shares fell 10% on Tuesday to $1.14 on the Nasdaq, their lowest point since May 21, 2003, when shares traded at $1.07.</p>
<p><strong>See Also: </strong><a href="http://www.businesssheet.com/2008/8/sirius-xm-ceo-mel-karmazin-stay-away-from-sumner-redstone">Mel Karmazin's Advice To Viacom CEO Dauman: Stay The Hell Away From Sumner Redstone</a></p><p><a href="http://www.businessinsider.com/2008/9/mel-karmazin-regular-radio-an-even-worse-investment-than-sirius-siri-#comments">Join the conversation about this story &#187;</a></p> http://www.businessinsider.com/2008/8/sirius-xm-ceo-mel-karmazin-stay-away-from-sumner-redstoneMel Karmazin's Advice To Viacom CEO Dauman: Stay The Hell Away From Sumner Redstonehttp://www.businessinsider.com/2008/8/sirius-xm-ceo-mel-karmazin-stay-away-from-sumner-redstone
Mon, 11 Aug 2008 02:45:00 -0400Hilary Lewis
<p><img style="float:right;" src="http://static1.businessinsider.com/~~/f?id=48a0025f796c7ad9008eae31&amp;maxX=300&amp;maxY=217" border="0" alt="karmazinredstoneap.jpg" title="karmazinredstoneap.jpg" width="300" height="217" /></p><p>Now that Sirius XM CEO Mel Karmazin has completed his much-delayed satellite radio merger, he's doling out advice to other sectors of the entertainment industry. For example, he has a big tip for Viacom "CEO" Philippe Dauman: be afraid, very afraid:</p>
<p style="padding-left: 30px;"><a href="http://www.nypost.com/seven/08102008/business/satellite_salvos_123876.htm">NY Post</a>: Sirius XM Radio CEO Mel Karmazin has some advice for Viacom CEO Philippe Dauman: put some distance between yourself and Sumner Redstone.</p>
<p style="padding-left: 30px;">Karmazin, after all, knows all too well that once inside Redstone's inner circle, it's only a matter of time before the Viacom chairman starts looking for ways to push you out.</p>
<p style="padding-left: 30px;">"Philippe is very close to Sumner," said Karmazin in an interview from a conference room at Sirius' Midtown headquarters.</p>
<p style="padding-left: 30px;">"There was a time when Sumner was very close to a lot of people. The only thing that's certain is that if Sumner is close to you now, he won't be close to you in the future because that's been his track record, including with family members..."</p>
<p>(See: <a href="http://www.businesssheet.com/2008/7/sumner-redstone-fires-another-family-member-kicks-daughter-off-board">Shari Redstone</a>) And people Redstone once thought of as family, such as Tom Freston.</p>
<p style="padding-left: 30px;">"When [Redstone] would talk to me about Freston, who I think is a great executive, he used to talk like he was his son," Karmazin said. "Then the stock goes down for two days and he fired him."</p>
<p>Well, if two days of stock declines was all it took to get someone fired at Viacom, Dauman would've been out <a href="http://finance.yahoo.com/q/hp?s=VIA">months ago</a>.</p>
<p><strong>See Also: </strong><a href="http://www.businesssheet.com/2008/7/sumner-redstone-fires-another-family-member-kicks-daughter-off-board">Sumner Redstone Fires Another Family Member: Kicks Daughter Off Board</a></p><p><a href="http://www.businessinsider.com/2008/8/sirius-xm-ceo-mel-karmazin-stay-away-from-sumner-redstone#comments">Join the conversation about this story &#187;</a></p>